REDWOOD CITY — QuanticMind, which operates a data platform for digital marketing, is raising a $20 million Series B funding round led by venture firm Foundation Capital, with additional participation from Safeguard Scientifics and Cervin Ventures.
QuanticMind will use the funding for strategic growth investments in both hiring and in product development. Specifically, the company will accelerate the artificial intelligence, predictive advertising, data science and machine learning capabilities of its data platform to conquer the increasingly complex challenges marketers face across digital’s constantly evolving channels – including Search, Shopping, Social and cross-channel customer journeys. These developments will also enhance the platform’s already-powerful ability to capture, connect and leverage the full power of disparate marketing data to surface truly actionable insights, inform smarter marketing decisions and ultimately drive phenomenal performance gains. Foundation Capital general partner Ashu Garg will also join the company’s board of directors.
This new round of funding follows a successful Series A round completed in September 2015 and caps a two-year period in which the company grew its customer base more than 300%.
“QuanticMind is at the forefront of applying next-generation technology to solve the complex challenges of digital marketing,” said Garg. “This investment will enable the company to continue leading the trend towards a predictive, machine learning-based future.”
The company already serves top-tier performance marketers from around the globe, including 1-800-Dentist, Rosetta Stone and Dermstore.
“This incredible milestone marks the next phase in QuanticMind’s continuing journey to help marketers step into the future, where their considerable talents are amplified by intelligent data science algorithms and machine learning-based automation,” said co-founder and CEO Chaitanya Chandrasekar. “At QuanticMind, we believe the ingenuity of the world’s most brilliant marketers becomes exponentially more powerful when they combine and leverage every single piece of relevant data available.”
“Digital advertising is an intensely data-driven market that continues to take share from other advertising formats,” said Mark Mitchell, Managing Director at Safeguard and Board Member at QuanticMind. “Since Safeguard provided capital to the company in 2015, QuanticMind’s team has built out a scalable platform with a top-tier list of customers. QuanticMind’s data-centric platform delivers best-in-class results to customers and positions the company as a leader in the growing and increasingly complex digital marketing ecosystem.”
“QuanticMind epitomizes the best of Silicon Valley,” said Preetish Nijhawan, Managing Director and co-founder of Cervin Ventures. “Developed by a tight-knit founding team of three Stanford entrepreneurs and performance marketing veterans, the company has developed the best marketing technology platform leveraging big data, AI and cloud, and become a critical solution for any enterprise with a significant digital spend.”